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The favourable economic situation in 2017 enabled an accelerated fiscal consolidation and further convergence towards the mid-term fiscal objective in Slovenia. Having examined the draft Stability Programme (SP 2018) for the 2018–2021 period, the Fiscal Council unfortunately needs to establish that the projected fiscal trends are not in compliance with fiscal rules. The appropriate mid-term […]

In a period when the Government of the Republic of Slovenia is only performing its regular duties the National Assembly is addressing 49 acts proposed by deputies in the Assembly; half of these proposed acts have direct financial effects.

To mark the first anniversary of its activities, the Fiscal Council organised a consultation with experts in public finance and economic policy. Following the invitation of the Fiscal Council, the participants expressed their opinions about its past work as well as the tasks and challenges faced by the newly established institution in the future.

The Fiscal Council calls on all the stakeholders not to exploit the present favourable situation to attain short-term and narrowly defined objectives that would endanger sustainability of public finances; the Government and the National Assembly must ensure further fiscal consolidation.

In addition to current trends, the publication “Public Finance and Macroeconomic Developments”, issued by the Fiscal Council, will also include an assessment of the factors and risks that could affect the attainment of fiscal objectives. In accordance with the Fiscal Rule Act, the Fiscal Council publishes its assessments of compliance with fiscal rules in its […]

On 29 November 2017, the Fiscal Council hosted a delegation of the International Monetary Fund (IMF) within its regular annual visit to Slovenia. The purpose of the visit was to exchange views on the current and expected fiscal position of Slovenia and the medium-term fiscal policy challenges, where the discussion focused primarily on the Fiscal […]

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About Fiscal Council

Slovenia has committed itself to establishing the Fiscal Council by ratifying the international Treaty on Stability, Coordination and Governance in the Economic and Monetary Union, on the basis of which the fiscal rule was integrated into the Constitution in 2013, while in 2015 an implementing act – the Fiscal Rules Act (Official Gazette of the Republic of Slovenia (Uradni list RS) no. 55/15) – was adopted.

The Fiscal Council is an independent and autonomous state authority supervising the management of the fiscal policy. Its fundamental task is to monitor the implementation of the fiscal rule, the medium-term balance between revenue and expenditure without borrowing, except in exceptional circumstances, and monitoring the implementation of the EU legislation regulating the economic governance in Member States.

In accordance with the Fiscal Rules Act the Fiscal Council shall perform a series of tasks. On the basis of the proposed framework for the preparation of the general government budget and the draft Stability programme it shall assess, inter alia, the sustainability of the fiscal policy and its compliance with the fiscal rules; with regard to compliance with these rules it shall also assess the proposed state budget or the amendments thereto and establish whether exceptional circumstances have occurred that permit deviation from the medium-term public finance balance.

The Fiscal Council shall have three members, appointed by the Parliament at the proposal of the Government. It is managed by Davorin Kračun, PhD, as president with a five-year term of office, while Tomaž Perše, MSc, and Alenka Jerkič are members.